International Assets Investment Management LLC Decreases Stake in Barrick Mining Corporation (NYSE:B)

International Assets Investment Management LLC reduced its stake in shares of Barrick Mining Corporation (NYSE:B) (TSE:ABX) by 23.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,081 shares of the gold and copper producer’s stock after selling 5,480 shares during the period. International Assets Investment Management LLC’s holdings in Barrick Mining were worth $351,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Barrick Mining by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 68,358,533 shares of the gold and copper producer’s stock valued at $1,060,036,000 after buying an additional 1,195,585 shares during the last quarter. Wellington Management Group LLP lifted its stake in Barrick Mining by 17.5% during the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer’s stock valued at $996,802,000 after acquiring an additional 9,598,292 shares during the period. Capital International Investors boosted its holdings in shares of Barrick Mining by 136.1% in the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer’s stock valued at $516,055,000 after acquiring an additional 19,189,830 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Barrick Mining by 1.9% in the 4th quarter. Mackenzie Financial Corp now owns 15,318,376 shares of the gold and copper producer’s stock valued at $237,280,000 after acquiring an additional 278,292 shares during the last quarter. Finally, Amundi increased its stake in shares of Barrick Mining by 1.7% in the fourth quarter. Amundi now owns 14,120,278 shares of the gold and copper producer’s stock worth $223,665,000 after acquiring an additional 236,116 shares during the period. 90.82% of the stock is owned by hedge funds and other institutional investors.

Barrick Mining Stock Down 3.5%

Shares of B opened at $20.46 on Friday. The firm has a market cap of $35.07 billion, a P/E ratio of 15.38, a PEG ratio of 0.34 and a beta of 0.27. Barrick Mining Corporation has a 12 month low of $17.41 and a 12 month high of $47.50. The stock’s 50 day moving average is $19.58 and its two-hundred day moving average is $18.23. The company has a current ratio of 2.87, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B) (TSE:ABX) last announced its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the firm posted $0.19 EPS. The business’s revenue was up 13.9% on a year-over-year basis. Analysts predict that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.96%. The ex-dividend date was Friday, May 30th. Barrick Mining’s dividend payout ratio is currently 30.08%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on B shares. CIBC boosted their target price on shares of Barrick Mining from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, June 11th. UBS Group boosted their price objective on Barrick Mining from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, April 11th. Wall Street Zen lowered Barrick Mining from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 14th. Stifel Canada upgraded Barrick Mining to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Royal Bank Of Canada upped their price objective on Barrick Mining from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Barrick Mining currently has an average rating of “Moderate Buy” and a consensus price target of $24.05.

Barrick Mining Company Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.